TikTok Founder Becomes China's Richest Person: His Wealth Valued at $49.3 Billion

The founder of TikTok, 41-year-old Zhang Yiming, has been recognized as China's richest person. According to the Hurun Research Institute, his net worth is now estimated at $49.3 billion, which is 43% higher than the figures recorded in 2023, reports BBC.

The source details that Zhang Yiming's personal wealth increased due to the global profits of his company, ByteDance (the parent organization of TikTok), which rose by 60% last year.

TikTok has become one of the most popular social media applications in the world, despite deep concerns in some countries regarding the platform's ties with the Chinese authorities.